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PairSoft • June 16, 2021
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Throw in political unrest, natural disasters, perhaps a few murder hornets, and you have a handful of reasons to establish a business continuity plan ASAP.
After 2020, business continuity plans are no longer that thing some team will get to at some point. No longer a box to check, it’s a business imperative.
But there’s one key feature essential to executing a highly effective business continuity plan in times of chaos: cloud-based AP automation.
A functioning business relies on the flow of money. Both in with accounts receivable and out with accounts payable.
If you already have an AP process in place, then you know how critical that artery is to your enterprise. Not just for paying your vendors, but for mitigating monotonous and costly tasks for your AP team, such as data entry and tracking down managers for approvals.)
Cloud-based AP takes mobility (and flexibility) further. Since NetSuite integration is already cloud-based, homebound teams can adjust quickly to remote work.
But can cloud-based AP enhance more than just your team’s ability to access it during a time of disruption? Let’s explore.
The character of “the cloud” provides mobile access. A feature like that can enhance your business holistically in a crisis. But here are four ways cloud-based AP automation can improve your business continuity plan overall.
Cloud technology became pivotal during the pandemic. Organizations that still relied on on-premise technology had a rather rude awakening, discovering those continuity pains quickly.
But the companies that moved all or a partial amount of their business operations to the cloud pre-pandemic, had an excellent operational advantage.
As competitors with AP teams tied to on-premise software scrambled to adapt to stagnated in-office work and work-from-home schedules, cloud-utilizing companies could easily continue with “business as usual” and take advantage of competitor downtime.
Cloud solutions allow organizations to scale technology resources according to demand, which keeps costs low and allows for easy readjustment of the technology footprint post-pandemic.
Cloud-based operations remove the need for a giant server and, ultimately, a tech department to service it when they could be working on other crucial functions. That cuts costs instantly.
But aside from cost, a cloud-based AP processing solution is built for growth, meaning it can easily adapt to new business processes without needing significant IT support.. So even though your teams are working remotely, the business can still remain agile.
An AP automation solution fully integrated with your ERP system means your employees will only have one system to log in to when working remotely.
PairSoft solution is tightly integrated with NetSuite, meaning your team only has to sign on to a single user interface to access the ERP.
Plus, PairSoft features document-based activity tracking—keeping you up to date on changes. So even when your team is working from home, you can see what actions are taken on AP documents and invoices.
Aside from your AP team, a cloud-based solution means better flexibility for your vendors. A web-based vendor portal is a lifeline when email communication is inaccessible.
A cloud-based AP solution, like PairSoft, provides a single location where all vendors are consolidated and can exchange invoices, check the status of invoice payments or where invoices are in the approvals process.
No need for your AP team to manually scramble for invoices or field panicked calls from your vendors on what to do next, in light of a disruption.
A business continuity plan provides a smooth transition of all business processes to help your enterprise roll with emergencies.
Cloud-based AP automation not only helps your employees stick to the task at hand and your business to pivot competitively, but it’ll also allow your vendors the flexibility to adapt with you.
So as you develop or add to your business continuity plan, make sure you have your “AP accessibility base” covered with a cloud-based AP automation solution.
PairSoft seamlessly integrates with NetSuite, enhancing user ease and saving your team from an unexpected sudden process meltdown.
Step up your disruption preparedness by connecting with us today.